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Dear Susbscribers,
I hope everyone had a restful Memorial weekend and are ready to do battle with the market again this week. Looking back to Friday, we did not cross above the 200 day moving averages. Nor did we close under 10,000 either. That leaves us in a state of limbo where truly anything could happen in the near term. With that being the case, then I think the best strategy is to simply wait and see. Meaning you should leave all your current positions in place.
If the market closes above and stays above the 200 day moving averages, then you should increase long positions.
If the market closes below and stays below Dow 10,000, then trim some long positions and even take more short positions to profit from an extended downward leg.
Enjoy these popular commentaries from Zacks.com:
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Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
Today's Top Stories: Tuesday- June 01, 2010
ZACKS RANK BUY STOCKS
- Aggressive Growth - Chipotle Mexican Grill, Inc. (CMG) Zacks Consensus Estimate for 2010 is up 49 cents, to $4.92. Analysts are projecting EPS of $5.81 in 2011, which is up 63 cents. Given a profit of $3.95 in 2009, annual growth rates are expected to be 25% and 18%, respectively. Read More...
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Growth & Income - Yum Brands (YUM) first-quarter revenue increased 6% to $2.35 billion. The company earned $0.59 per share, an increase of 22.9% compared to the year-ago quarter. Yum Brands beat the Zacks Consensus Estimate by 6 cents, or 11.3%. Read More...
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Momentum - Whole Foods Market, Inc. (WFMI) had impressive Q2 revenue up 13% from last year to $2.1 billion, with comparable-store sales up 8.7%. Earnings came in strong too at 38 cents, 12% ahead of the Zacks Consensus Estimate. Read More...
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Value - Signet Jewelers Limited (SIG) fiscal first quarter 2010 earnings per share were 60 cents in the quarter compared to the consensus of 43 cents. Sales jumped 6.2% to $810 million while same store sales also rose by 5.8%. Read More...
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ZACKS MUTUAL FUND RANK
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BEST OF ZACKS EQUITY RESEARCH
BEST OF ZACKS.COM PARTNER COMMENTARY
EDUCATION: Aggressive Growth
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VIP "OnIslandTrader" watching the sets roll in to profit with BUY calls in (BGS), (IT), and (UCO). Read More...
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Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
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